Financial Coaches Network - The Podcast: Build your Financial Coaching Business

By Joshua Escalante Troesh, Garrett Philbin, Amelie Riendl, and Emily BlainBusiness Entrepreneurship

Financial Coaches Network - The Podcast: Build your Financial Coaching Business episodes

March 12, 2024#117: What to do when you're stuck/in a funk...and how do I build a support system for myself as a new business owner?
Join Josh and Amelie to discuss how to get yourself out of a funk and how to build a support system to help pull you out.
Top things to think about:
If there is one thing that is holding you back from moving forward in your business…consider if it’s possible to just not do that one thing.
Set realistic expectations for yourself.
Don’t change your strategy because you’re impatient–give it time to play out.
Find out how to identify a trigger point and get in front of your clients at that point.
If you know there’s a specific time of year or event that is overwhelming, block your calendar off during that time so you can prepare.
Want help building or growing a successful financial coaching business? Find resources below based on where you’re at in your journey:
Deciding whether Financial Coaching is right for you? Join our free Facebook Community with over 5000 current and aspiring financial coaches! https://www.facebook.com/groups/financialcoachescommunity
Already decided you’re going to be a Financial Coach and want to learn more? Get 30+ tips and best practices in our free 8-part email series! https://www.financialcoachesnetwork.com/pre-launch-email-series
Ready to Launch your Financial Coaching business? Join FCN Launch, our step-by-step program that will help you successfully launch your business in four months and grow it to a consistent part-time income. https://www.financialcoachesnetwork.com/launch
Looking for financial coaching software? Sign up for the interest list for FCN MoneyCoach, the premier cash flow analysis software for financial coaches and advisers. https://www.financialcoachesnetwork.com/money-coach
Are you already coaching clients and want to grow your business to a full-time income? Join FCN Grow, our program that helps you scale your business to a full-time income. https://www.financialcoachesnetwork.com/grow
31 min
March 05, 2024#116 - What are ways to make money as a financial coach beyond 1:1 or group coaching?
Join Josh and Emily to discuss ways to make money as a financial coach outside of…coaching!
Top things to think about:
Do you have a valuable certification (hard to get, of value to society, recognized, etc.) or not?
Most personal finance-related things that aren’t service-related will require a TON of time and you’ll make very little money.
Is there a job (either W2 or 1099) you could take that would increase your credibility to your niche?
Want help building or growing a successful financial coaching business? Find resources below based on where you’re at in your journey:
Deciding whether Financial Coaching is right for you? Join our free Facebook Community with over 5000 current and aspiring financial coaches! https://www.facebook.com/groups/financialcoachescommunity
Already decided you’re going to be a Financial Coach and want to learn more? Get 30+ tips and best practices in our free 8-part email series! https://www.financialcoachesnetwork.com/pre-launch-email-series
Ready to Launch your Financial Coaching business? Join FCN Launch, our step-by-step program that will help you successfully launch your business in four months and grow it to a consistent part-time income. https://www.financialcoachesnetwork.com/launch
Looking for financial coaching software? Sign up for the interest list for FCN MoneyCoach, the premier cash flow analysis software for financial coaches and advisers. https://www.financialcoachesnetwork.com/money-coach
Are you already coaching clients and want to grow your business to a full-time income? Join FCN Grow, our program that helps you scale your business to a full-time income. https://www.financialcoachesnetwork.com/grow
36 min
February 27, 2024#115: I have imposter syndrome–help!
Join Josh and Amelie to discuss Imposter Syndrome.
Top takeaways:
Imposter syndrome can show up in three ways: “there’s so much I don’t know!”, “this is easy, why would someone pay me?”, and actual “I have no idea what I’m talking about.”
See if you can narrow down specific areas where imposter syndrome crops up.
Don’t ignore your imposter syndrome–it’s telling you something, whether knowledge, process, or your mindset/beliefs!
Previous episodes:
Episode 53 - What is Imposter Syndrome?
Episode 54 - Impostor Syndrome around your coaching process
Episode 55 - How increasing your technical knowledge can help reduce Impostor Syndrome
Want help building or growing a successful financial coaching business? Find resources below based on where you’re at in your journey:
Deciding whether Financial Coaching is right for you? Join our free Facebook Community with over 5000 current and aspiring financial coaches! https://www.facebook.com/groups/financialcoachescommunity
Already decided you’re going to be a Financial Coach and want to learn more? Get 30+ tips and best practices in our free 8-part email series! https://www.financialcoachesnetwork.com/pre-launch-email-series
Ready to Launch your Financial Coaching business? Join FCN Launch, our step-by-step program that will help you successfully launch your business in four months and grow it to a consistent part-time income. https://www.financialcoachesnetwork.com/launch
Looking for financial coaching software? Sign up for the interest list for FCN MoneyCoach, the premier cash flow analysis software for financial coaches and advisers. https://www.financialcoachesnetwork.com/money-coach
Are you already coaching clients and want to grow your business to a full-time income? Join FCN Grow, our program that helps you scale your business to a full-time income. https://www.financialcoachesnetwork.com/grow
33 min
February 20, 2024#114: Paid vs Free Promotion Opportunities
Join Josh and Emily as they discuss pros and cons of paid and free promotion opportunities. Which is better? What should you think about?
Top takeaways:
You have much less control over free marketing options.
Make sure you have an infrastructure to handle business opportunities.
Attending free events in an unofficial capacity rarely leads to genuinely organic conversations.
Attending events as a sponsor or with a booth can be a GREAT conversation starter.
It’s often more expensive to go with free options because you’ll pay so much to get it set up.
Paid options allow much more specific targeting.
Want help building or growing a successful financial coaching business? Find resources below based on where you’re at in your journey:
Deciding whether Financial Coaching is right for you? Join our free Facebook Community with over 5000 current and aspiring financial coaches! https://www.facebook.com/groups/financialcoachescommunity
Already decided you’re going to be a Financial Coach and want to learn more? Get 30+ tips and best practices in our free 8-part email series! https://www.financialcoachesnetwork.com/pre-launch-email-series
Ready to Launch your Financial Coaching business? Join FCN Launch, our step-by-step program that will help you successfully launch your business in four months and grow it to a consistent part-time income. https://www.financialcoachesnetwork.com/launch
Looking for financial coaching software? Sign up for the interest list for FCN MoneyCoach, the premier cash flow analysis software for financial coaches and advisers. https://www.financialcoachesnetwork.com/money-coach
Are you already coaching clients and want to grow your business to a full-time income? Join FCN Grow, our program that helps you scale your business to a full-time income. https://www.financialcoachesnetwork.com/grow
38 min
February 13, 2024#113: When (if ever) does whole life insurance make sense?
Join Josh and Amelie to talk about Whole/Universal Life Insurance! As Amelie was studying for her AFC exam, she found herself wondering when–if ever–whole life insurance makes sense.
Top takeaways:
First question to ask: do you have a temporary or permanent need for insurance?
Second question: have you run out of all other tax-sheltered accounts (IRA, 401k, 529, etc.)?
There are some long-term care insurance policies that are hybrid whole life/long-term care and some that can be riders on other policies.
If you have a family history/higher likelihood of cancer, it may make sense to have whole life with potential additional benefits/ability to buy more.
Every tool has a place; our job is to help figure out if the tool is being used for the correct purpose.
Want help building or growing a successful financial coaching business? Find resources below based on where you’re at in your journey:
Deciding whether Financial Coaching is right for you? Join our free Facebook Community with over 5000 current and aspiring financial coaches! https://www.facebook.com/groups/financialcoachescommunity
Already decided you’re going to be a Financial Coach and want to learn more? Get 30+ tips and best practices in our free 8-part email series! https://www.financialcoachesnetwork.com/pre-launch-email-series
Ready to Launch your Financial Coaching business? Join FCN Launch, our step-by-step program that will help you successfully launch your business in four months and grow it to a consistent part-time income. https://www.financialcoachesnetwork.com/launch
Looking for financial coaching software? Sign up for the interest list for FCN MoneyCoach, the premier cash flow analysis software for financial coaches and advisers. https://www.financialcoachesnetwork.com/money-coach
Are you already coaching clients and want to grow your business to a full-time income? Join FCN Grow, our program that helps you scale your business to a full-time income. https://www.financialcoachesnetwork.com/grow
35 min
February 06, 2024#112: How to choose a niche
Join Josh and Amelie to help Launch member Jackie choose her niche! Jackie reached out to Amelie about choosing a niche, and Amelie invited her onto the podcast to talk with her and Josh!
Top takeaways:
Consider that opening a non-profit business is an option if you’re looking to serve primarily lower income folks.
Feel free to start with a REALLY broad opening category, as broad as “people who wouldn’t use the services a non-profit offers.”
If you could work with only one TYPE of people, what type of person would you work with?
Consider who has the ability to pay you.
Want help building or growing a successful financial coaching business? Find resources below based on where you’re at in your journey:
Deciding whether Financial Coaching is right for you? Join our free Facebook Community with over 5000 current and aspiring financial coaches! https://www.facebook.com/groups/financialcoachescommunity
Already decided you’re going to be a Financial Coach and want to learn more? Get 30+ tips and best practices in our free 8-part email series! https://www.financialcoachesnetwork.com/pre-launch-email-series
Ready to Launch your Financial Coaching business? Join FCN Launch, our step-by-step program that will help you successfully launch your business in four months and grow it to a consistent part-time income. https://www.financialcoachesnetwork.com/launch
Looking for financial coaching software? Sign up for the interest list for FCN MoneyCoach, the premier cash flow analysis software for financial coaches and advisers. https://www.financialcoachesnetwork.com/money-coach
Are you already coaching clients and want to grow your business to a full-time income? Join FCN Grow, our program that helps you scale your business to a full-time income. https://www.financialcoachesnetwork.com/grow
36 min
January 30, 2024#111: Is $1000 a big enough emergency fund?
Join Josh and Emily to discuss whether $1000 is a big enough emergency fund…and more specifically, how to determine how much of an emergency fund you actually need.
Top takeaways:
$1000 is a truly arbitrary number. It hasn’t changed in decades and isn’t based on income or expenses.
In order to determine a good emergency fund benchmark, you have to figure out what your emergency fund should cover (medical bills? Job loss? Home repairs? etc.)
3-6 months is common, but that’s a HUGE range.
All rules of thumb are, by definition, wrong.
In a true job-loss emergency, the goal should be to keep things status quo, not have to cut everything else.
“New tires” should not be an emergency–it should be predictable.
Want help building or growing a successful financial coaching business? Find resources below based on where you’re at in your journey:
Deciding whether Financial Coaching is right for you? Join our free Facebook Community with over 5000 current and aspiring financial coaches! https://www.facebook.com/groups/financialcoachescommunity
Already decided you’re going to be a Financial Coach and want to learn more? Get 30+ tips and best practices in our free 8-part email series! https://www.financialcoachesnetwork.com/pre-launch-email-series
Ready to Launch your Financial Coaching business? Join FCN Launch, our step-by-step program that will help you successfully launch your business in four months and grow it to a consistent part-time income. https://www.financialcoachesnetwork.com/launch
Looking for financial coaching software? Sign up for the interest list for FCN MoneyCoach, the premier cash flow analysis software for financial coaches and advisers. https://www.financialcoachesnetwork.com/money-coach
Are you already coaching clients and want to grow your business to a full-time income? Join FCN Grow, our program that helps you scale your business to a full-time income. https://www.financialcoachesnetwork.com/grow
34 min
January 23, 2024#110: How we teach our kids about money
Join Josh, Amelie, and Emily to discuss how we talk to our kids about money and how we handle allowances! Emily has a 6-year-old daughter (1st grade), Amelie has an 11-year-old daughter (5th grade) and a 9-year-old son (3rd grade), and Josh has a 6-year-old son and a 4-year-old daughter.
Top takeaways:
Everything should be tied to childhood development stages.
Make money relatable and tactile.
Let your kids make mistakes and regret spending money on things NOW so that they’ll start learning that earlier.
When thinking about allowance, start with, “What are we trying to teach?”
Want help building or growing a successful financial coaching business? Find resources below based on where you’re at in your journey:
Deciding whether Financial Coaching is right for you? Join our free Facebook Community with over 5000 current and aspiring financial coaches! https://www.facebook.com/groups/financialcoachescommunity
Already decided you’re going to be a Financial Coach and want to learn more? Get 30+ tips and best practices in our free 8-part email series! https://www.financialcoachesnetwork.com/pre-launch-email-series
Ready to Launch your Financial Coaching business? Join FCN Launch, our step-by-step program that will help you successfully launch your business in four months and grow it to a consistent part-time income. https://www.financialcoachesnetwork.com/launch
Looking for financial coaching software? Sign up for the interest list for FCN MoneyCoach, the premier cash flow analysis software for financial coaches and advisers. https://www.financialcoachesnetwork.com/money-coach
Are you already coaching clients and want to grow your business to a full-time income? Join FCN Grow, our program that helps you scale your business to a full-time income. https://www.financialcoachesnetwork.com/grow
32 min
January 16, 2024#109: Tax Obligations - 1099 requirements for 2024
Join Josh and Amelie to discuss everyone’s favorite…taxes! What are your obligations in sending 1099s to someone? Did you know that there may be requirements for you to send 1099s to someone?!
Top takeaways:
If you receive over $600 income through a third party (AdvicePay/Stripe/Paypal etc.), that third party will issue you a 1099 (though this has and will continue to change a lot).
Double check 1099 numbers so they all line up correctly.
If you pay someone/some company over $600 over the course of a year, you have to issue a 1099 to them UNLESS it is a corporation or if you pay by credit card (NOT debit card).
Your deadline is January 30!!!! If you missed that…do it ASAP and be prepared to pay penalties.
Want help building or growing a successful financial coaching business? Find resources below based on where you’re at in your journey:
Deciding whether Financial Coaching is right for you? Join our free Facebook Community with over 5000 current and aspiring financial coaches! https://www.facebook.com/groups/financialcoachescommunity
Already decided you’re going to be a Financial Coach and want to learn more? Get 30+ tips and best practices in our free 8-part email series! https://www.financialcoachesnetwork.com/pre-launch-email-series
Ready to Launch your Financial Coaching business? Join FCN Launch, our step-by-step program that will help you successfully launch your business in four months and grow it to a consistent part-time income. https://www.financialcoachesnetwork.com/launch
Looking for financial coaching software? Sign up for the interest list for FCN MoneyCoach, the premier cash flow analysis software for financial coaches and advisers. https://www.financialcoachesnetwork.com/money-coach
Are you already coaching clients and want to grow your business to a full-time income? Join FCN Grow, our program that helps you scale your business to a full-time income. https://www.financialcoachesnetwork.com/grow
25 min
January 09, 2024#108: What do I need to do to legally give basic investment advice?
Join Josh and Amelie to discuss investment advice and what you need to do to legally/ethically give investment advice.
Top takeaways:
You do not need a CFP to give investment advice; you need to register as an investment advisor with your state.
There are licenses to sell and earn commissions, sell insurance, give investment advice, etc.
Series 65 is license to give advice as an investment advisor (you cannot sell products).
In order to get a sales license, you need to be sponsored by a company. You are not being licensed as a financial advisor or investment advisor, you are a sales rep (title on license is “registered representative”).
To get the series 65, you can be sponsored by a company or start your own RIA firm.
If you are going to sell products, you generally cannot charge for your coaching services.
Your regulation requirements skyrocket with any of these options.
Want help building or growing a successful financial coaching business? Find resources below based on where you’re at in your journey:
Deciding whether Financial Coaching is right for you? Join our free Facebook Community with over 5000 current and aspiring financial coaches! https://www.facebook.com/groups/financialcoachescommunity
Already decided you’re going to be a Financial Coach and want to learn more? Get 30+ tips and best practices in our free 8-part email series! https://www.financialcoachesnetwork.com/pre-launch-email-series
Ready to Launch your Financial Coaching business? Join FCN Launch, our step-by-step program that will help you successfully launch your business in four months and grow it to a consistent part-time income. https://www.financialcoachesnetwork.com/launch
Looking for financial coaching software? Sign up for the interest list for FCN MoneyCoach, the premier cash flow analysis software for financial coaches and advisers. https://www.financialcoachesnetwork.com/money-coach
Are you already coaching clients and want to grow your business to a full-time income? Join FCN Grow, our program that helps you scale your business to a full-time income. https://www.financialcoachesnetwork.com/grow
43 min

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Looking to build a successful financial coaching business? Join thousands of others in the Financial Coaches Community who are building successful financial coaching businesses. Hosted by Joshua…